[Economic Indicators August, 1997]
[Page Number 7]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
FARM INCOME

In the fourth quarter of 1996, according to preliminary estimates, gross 
farm income fell $5.8 billion (annual rate) and net farm income fell 
$6.5 billion.
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                                        [Billions of dollars; quarterly data at seasonally adjusted annual rates]                                       
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                                                                                         Income of farm operators from farming                          
                                                              ------------------------------------------------------------------------------------------
                                                                                      Gross farm income                                                 
                                                              -----------------------------------------------------------------                         
                            Period                                                 Cash marketing receipts                                              
                                                                           ---------------------------------------   Value of    Production    Net farm 
                                                                Total \1\                 Livestock                 inventory     expenses      income  
                                                                               Total         and         Crops     changes \2\                          
                                                                                           products                                                     
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1987 ........................................................        168.4        141.8         76.0         65.8         -2.3        131.0         37.4
1988 ........................................................        177.9        151.2         79.6         71.6         -4.1        139.9         38.0
1989 ........................................................        191.9        160.8         83.9         76.9          3.8        146.7         45.3
1990 ........................................................        198.2        169.5         89.2         80.3          3.3        153.4         44.8
1991 ........................................................        191.9        167.9         85.8         82.1          -.2        153.3         38.5
1992 ........................................................        200.6        171.3         85.6         85.7          4.2        152.5         48.0
1993 ........................................................        204.2        177.6         90.2         87.5         -4.5        160.5         43.6
1994 ........................................................        215.8        180.8         88.1         92.6          8.2        167.4         48.4
1995 ........................................................        210.4        185.8         86.8         98.9         -3.4        175.6         34.8
1996 p.......................................................        233.1        202.0         92.9        109.1          2.8        183.7         49.3
                                                                                                                                                        
1995:I.......................................................        208.3        180.6         83.2         97.4         -4.1        172.4         35.9
      II.....................................................        206.4        181.0         81.6         99.4         -3.9        175.4         30.9
      III....................................................        218.5        199.8         96.1        103.7         -3.0        177.5         41.0
      IV ....................................................        208.4        181.5         86.5         95.1         -2.4        177.0         31.4
                                                                                                                                                        
1996:I.......................................................        239.1        203.4         90.1        113.3          3.4        180.0         59.1
      II.....................................................        238.4        205.6         90.5        115.1          3.2        184.6         53.8
      III....................................................        230.4        205.9         96.7        109.2          2.6        184.9         45.5
      IV p...................................................        224.6        193.0         94.2         98.8          2.1        185.5         39.0
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    \1\ Cash marketing receipts and 
inventory changes plus Government 
payments, other farm cash income, 
and nonmoney income furnished by 
farms.
    \2\ Physical changes in end-of-
year inventory of crop and livestock 
commodities valued at average prices 
during the year.
    Note.--Data include net 
Commodity Credit Corporation loans 
and operator households.
    Quarterly data plotted for 1989 
through 1993 in chart do not reflect 
previous revisions to annual data in 
table.

    Sources: Department of 
           Agriculture.